Spring Cleaning: Reviewing and Updating Your Estate Plan 

Spring is a time for fresh starts, and that should include your estate planning documents. Just like decluttering your home, reviewing and updating your will, trust, and power of attorney ensures your estate plan reflects your current wishes and circumstances. Outdated documents can create unnecessary stress for your loved ones and may not align with your intentions. 

Why Update Your Estate Plan? 

Life changes, and your estate plan should evolve with it. Key reasons to review and update your documents include: 

• Major life events: Marriage, divorce, the birth of a child, or a death in the family may require adjustments. 

• Changes in assets: Acquiring or selling property, starting a business, or significant financial changes may impact your estate. 

• New laws and regulations: Tax laws and estate planning rules can change, affecting your plan’s effectiveness. 

• Updating beneficiaries: Ensuring your will, trust, and retirement accounts reflect your current wishes. 

• Reviewing executors and trustees: Confirming that the individuals you designated are still the right choice for managing your estate. 

Key Documents to Review 

1. Will 

Your will outlines how your assets will be distributed and who will serve as executor. Ensure it: 

• Accurately reflects your current wishes. 

• Names the correct executor and guardians for minor children. 

• Accounts for any new assets or changes in beneficiary designations. 

2. Trust 

A trust helps manage and distribute assets efficiently while avoiding probate. Review your trust to: 

• Confirm trustees and successor trustees are still appropriate. 

• Ensure assets are properly titled and funded into the trust. 

• Update distribution instructions if family dynamics have changed. 

3. Power of Attorney 

A power of attorney (POA) authorizes someone to handle financial or medical decisions on your behalf if you become incapacitated. Ensure your POA: 

• Reflects your current choice for an agent. 

• Complies with state laws. 

• Grants the necessary authority for financial and healthcare decisions. 

How to Update Your Estate Plan 

If you discover outdated provisions or missing documents, consult an estate planning attorney to make necessary updates. A small revision today can prevent major legal complications later. 

Take Action This Spring 

An updated estate plan provides clarity, protects your loved ones, and ensures your wishes are honored. If you haven’t reviewed your will, trust, or power of attorney recently, now is the time. Contact Gravis Law today to schedule a consultation and keep your estate plan up to date.